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CME lean hog futures fell sharply on Tuesday as US-China tensions grew. China threatened to halt all purchases of US farm products after Trump announced a 10% tariff on a further $300 billion in Chinese imports.
Cash hog prices in Iowa and southern Minnesota also fell.
Threatened Chinese boycotts of US pork remove a key export outlet at a time when African swine fever has tightened Chinese supply, pressuring US hog prices.
reuters.comKarl Plume6 ago 2019Tras 123 eventos bajista de comercio pasados, Cerdo magro se movió una mediana de -0,4 % en 5 sesiones (43% al alza; mitad central entre -2,9 % y +2,0 %), y -0,2 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
The Aug 6 hog selloff on US-China trade tensions and China's threat to halt US farm purchases weighed on export-demand expectations, though it falls just before the window and the move is partly a carryover.
